This is pretty wild: investing/betting on US civil lawsuits via a crypto-token.
Apparently this is already an industry, but now... on a blockchain? The article talks a lot about 'opening access to anyone', but then also talks about vetting cases and only allowing accredited investors for the first year(s)?
The bar is set high, the line is thin, and the short term incentives don't always line up... but I think everyone here will agree that building censorship resistant that actually work will be of huge benefit.
This is a good read:
Easy reaction is 'LOL ETH', but I think its worth thinking about the points made, in relation to bitcoin infrastructure as well.
eg, as much as many of you probably love building your own node from source, what portion of people out there are capable *and* willing to do so? Some of the 'easy-node' projects are great in this regard. For example, I've seen Umbrel praised by MANY people.
World champion disc golfer Ricky Wysocki just signed a new sponsor deal worth $1 million USD per year for the next few years. The deal also included a signing bonus of $250k USD worth of #bitcoin 👀
Sending wire transfers would be much less stressful if any of the required pieces of data included checksums (account numbers, SWIFT codes, etc).
"Make sure you quadruple check every number and letter, any single error will send your money into the abyss"
"It really doesn't have to be this way"
This is an interesting analysis of 'web3.0' architecture, it attempts to put some numbers on the cost of computation when using #ethereum in particular. As you might guess, the results are kinda hilariously bad in terms of relative cost. This *should* limit use-cases for on-chain computation substantially.. but #web3 seems to be the new bLoCkcHaIn buzzword.
Relevant XKCD comic:
Some interesting bits:
- OP_RETURN txs accounted for 22% of all txs made during the timeframe investigated (32.4 million/147.6 million).
- about 98% of these were Veriblock or OMNI txs
- about 98% of OMNI txs were tether-related
- the authors noted ~6700 RSK txs, which paid zero(!) fees
- some of the discussion section is interesting, regarding relative fee-rates, stewardship of block-space, etc, of OMNI, VB, and some other protocols. Food for thought on efficient use of blockspace, at least.
Interesting article investigating the use of OP_RETURN on the #bitcoin network:
This is kind of funny:
"We downloaded all blocks mined during this period (block heights 541,306 to 610,681) via the Smartbit Bitcoin Block API"
I guess the API's output is more easily parsed, but still, the bitcoiner's kneejerk reaction has to be "why didn't you run a node and verify this data yourself?"
I find it interesting how cathartic it is to be a #bitcoin user, considering how most people just look at the historic price volatility and decide that owning bitcoin is too stressful/high risk for them.
Once you adjust your time preference and gain a vision for the sort of liberation bitcoin may bring, you realize that bitcoin isn't stressful, its stress relief.
Tell me you don't understand #bitcoin, without telling me you don't understand bitcoin:
I'm baffled by this:
I find it absurd, to really believe that creating so much complexity and friction to put a bandaid on proof of stake's shortcomings as a censorship-resistant consensus mechanism will be *more efficient* than just utilizing proof of work in the 1st place!
^This article explains the 'specialized anti censorship magic' mentioned in the above. Still wrapping my head around it, maybe I'll have more thoughts later.
Is there a good formula to determine the ‘speed of finality’ for a tx/block?
At base, it would be measured in ‘value/time’, as determined by the block rewards/block interval. But I feel like that is maybe an incomplete picture, for example a high degree of MEV could cause instability at the chain tip, resulting in slower finality ‘guarantees’, no? How would you account for that, is it reasonable to just subtract (some portion of?) the potential MEV from the block rewards? What else?
Hello new #bitcoin people! And also old people that are back once again. Good to see the fediverse growing, I think its a good fit for bitcoiners
Is this true, is blockchain.info withholding user funds unless over-the-top KYC is submitted?
I mean, I would already never, ever recommend using their wallet software, but its still sad to see this sort of abuse of customers become more widespread.
Interesting question on stack exchange: https://bitcoin.stackexchange.com/questions/110757/does-eltoo-require-trusting-watchtowers-not-to-close-channels
I don't understand eltoo well enough to know the answer, but my thought is that if watchtower services become common place, it would be 'bad for business' to close customer channels in any case. Not the most bullet proof assumption, but perhaps situationally appropriate?
Maybe a better question: what incentives could a watch tower have to behave in this way?
One of my #bitcoin nodes runs on a very old macbook pro. That machine is now too old to update the OS, and thus xcode, and thus some libraries/dependancies... and thus... Shill me your favourite linux builds! (that I could load onto this 2008 macbook pro, preferably). Or should I look at openBSD? Or something else? Open to suggestions.
I forgot that bitcoin-core dropped the '0.' from the start of the version number. Just spend far too long hunting through git tags trying to figure out why I wasn't pulling the latest version. Aaahhhhh lol
Bitcoin Maston Instance